MUFG Securities EMEA plc Buys New Shares in Brookfield Asset Management Ltd. (NYSE:BAM)

Key Points

• MUFG Securities EMEA plc invested approximately $27.86 million in Brookfield Asset Management, acquiring 574,999 shares, making it their 15th largest position.
• Several institutional investors, including Vanguard Group Inc. and Ameriprise Financial Inc., have increased their stakes in Brookfield Asset Management, further indicating strong institutional interest in the stock.
• Analysts have set a moderate consensus rating of "Moderate Buy" for Brookfield Asset Management, with an average price target of $62.33, reflecting positive outlooks from various firms.

MUFG Securities EMEA plc bought a new position in shares of Brookfield Asset Management Ltd. (NYSE:BAM - Free Report) TSE: BAM.A during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 574,999 shares of the financial services provider's stock, valued at approximately $27,859,000. Brookfield Asset Management accounts for about 0.6% of MUFG Securities EMEA plc's portfolio, making the stock its 15th biggest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of BAM. Vanguard Group Inc. lifted its position in Brookfield Asset Management by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 17,204,794 shares of the financial services provider's stock valued at $832,833,000 after purchasing an additional 302,852 shares during the period. Capital International Investors boosted its holdings in shares of Brookfield Asset Management by 0.7% in the 4th quarter. Capital International Investors now owns 16,116,518 shares of the financial services provider's stock valued at $873,354,000 after buying an additional 116,008 shares during the last quarter. Bank of Nova Scotia boosted its holdings in shares of Brookfield Asset Management by 1.2% in the 1st quarter. Bank of Nova Scotia now owns 2,269,833 shares of the financial services provider's stock valued at $109,913,000 after buying an additional 27,913 shares during the last quarter. Bank of America Corp DE lifted its holdings in Brookfield Asset Management by 12.5% during the 4th quarter. Bank of America Corp DE now owns 1,939,109 shares of the financial services provider's stock valued at $105,080,000 after purchasing an additional 215,670 shares during the last quarter. Finally, Madison Asset Management LLC increased its position in Brookfield Asset Management by 9.5% during the 1st quarter. Madison Asset Management LLC now owns 1,901,985 shares of the financial services provider's stock worth $92,151,000 after buying an additional 165,098 shares during the period. Institutional investors own 68.41% of the company's stock.

Brookfield Asset Management Trading Up 0.3%

NYSE BAM traded up $0.16 on Monday, hitting $61.42. The company's stock had a trading volume of 1,588,791 shares, compared to its average volume of 1,928,682. The firm has a market cap of $100.59 billion, a P/E ratio of 41.22, a PEG ratio of 2.21 and a beta of 1.44. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 0.07. The company's 50-day simple moving average is $57.79 and its 200 day simple moving average is $55.03. Brookfield Asset Management Ltd. has a 52-week low of $38.95 and a 52-week high of $64.10.

Brookfield Asset Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a $0.4375 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.75 dividend on an annualized basis and a dividend yield of 2.8%. Brookfield Asset Management's dividend payout ratio (DPR) is presently 117.45%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Royal Bank Of Canada began coverage on Brookfield Asset Management in a research report on Wednesday, June 18th. They issued an "outperform" rating and a $72.00 price target on the stock. Scotiabank lifted their price objective on Brookfield Asset Management from $66.00 to $67.25 and gave the stock an "outperform" rating in a research note on Thursday. JPMorgan Chase & Co. boosted their price target on Brookfield Asset Management from $51.00 to $55.00 and gave the company a "neutral" rating in a research note on Wednesday, May 7th. TD Securities boosted their price objective on Brookfield Asset Management from $66.00 to $75.00 and gave the company a "buy" rating in a report on Monday, July 28th. Finally, Wall Street Zen upgraded Brookfield Asset Management from a "sell" rating to a "hold" rating in a report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $62.33.

Brookfield Asset Management Company Profile

Brookfield Asset Management Ltd. is a real estate investment firm specializing in alternative asset management services. Its renewable power and transition business includes the operates in the hydroelectric, wind, solar, distributed generation, and sustainable solution sector. The company's infrastructure business engages in the utilities, transport, midstream, and data infrastructure sectors.